audit report

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swati (Querist)
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05 November 2008 Mr X Is proprietor of two business of rice mill .whether two audit report will be prepared or 1? can different a/cing method (Cash or Mercantile) can be applied for these 2 business?

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Guest (Expert)

05 November 2008 only one audit report is required to be made.

only one method of accounting (cash or mercantile) can be applied.

CA Bosu babu

CA Bosu babu (Expert)
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06 November 2008 yes...only one report has to made...can follow cash or merchantile basis its their option,except in the case of companies...

if your customer is nt a company then they can follow cash basis...

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